The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Dec. 30, 2014
Filed:
Nov. 14, 2003
James Farrell, Carol Stream, IL (US);
James Krause, Palatine, IL (US);
Mazen Chadid, Chicago, IL (US);
James Farrell, Carol Stream, IL (US);
James Krause, Palatine, IL (US);
Mazen Chadid, Chicago, IL (US);
Chicago Mercantile Exchange Inc., Chicago, IL (US);
Abstract
A system and method for mitigating effects of a market spike caused by triggering and election of a conditional order in an automated matching system. The system includes evaluation logic which monitors conditional orders submitted to a trading engine compares a price of an order to a first predefined price range ('first range') and delay logic which delays matching of the submitted orders when the price thereof lie outside of the first range. Pricing logic derives an opening price for use by the trading engine. Timing logic measures a time interval to delay matching of the orders until the opening price is within a predefined price range up to a maximum delay time set by a control center.